My K1 For ET Has a Positive amount in Box 1 7K plus. It seems to put it in regular income, my understanding is it should be capital gain

I have Capital loss carryover and should wipe this out but it does not.

posted

Schedule K-1 Box 1 reports several categories of ordinary income (business, rental, investment, other). Capital Gains are reported in Part III on Line 8-10. Only capital gains can be offset by capital loss carryovers.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I have dividends and capital gains from 2024 that occur very unevenly. Where/how does Turbo Tax account for this?

in Investors & landlords

Expert does your taxes

Do it yourself

Resources

Support

My K1 For ET Has a Positive amount in Box 1 7K plus. It seems to put it in regular income, my understanding is it should be capital gain

My K1 For ET Has a Positive amount in Box 1 7K plus. It seems to put it in regular income, my understanding is it should be capital gain

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

My K1 For ET Has a Positive amount in Box 1 7K plus. It seems to put it in regular income, my understanding is it should be capital gain

Do you have an Intuit account?

My K1 For ET Has a Positive amount in Box 1 7K plus. It seems to put it in regular income, my understanding is it should be capital gain

Unlock tailored help options in your account.

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert